Cellect Biotechnology (NASDAQ:APOP) news for Tuesday includes new patent approvals that have APOP stock taking off.
A Cellect Biotechnology news release reveals that the company has gained approval for two of its patents. These are patents European Patent Application No. 14851547.1 and Israeli Patent Application No. 244982. The approvals come from the European Patent Office and the Israeli Intellectual Property Office.
These new patents from Cellect Biotechnology are for products and methods connected to stem cell research. To be more specific, the patents cover a way of manufacturing “a stem and progenitor cell population with enhanced activity by short incubation with an apoptotic ligand.”
Dr. Shai Yarkoni, Chief Executive Officer of Cellect Biotechnology, has this to say about the positive APOP stock news.
“These added protections continue to create barriers to entry and allows us to advance our business development strategies to monetize our innovation. We believe the combination of strong IP protection and validated business collaborations support our business model and will enable us to attract external resources to strengthen and expand our opportunities.”
The Cellect Biotechnology news release notes that following this newest update, the company now holds 65 patent applications across the world. It also points out that 33 of these are issues or allowed patents.
APOP stock was up 76.25% as of Tuesday afternoon. It was up as much as 161% when markets opened today.